By Hannah Lang WASHINGTON (Reuters) – The dollar was flat on Tuesday after China said it would scrap its COVID-19 quarantine rule for inbound travelers – a major step in reopening its borders, even as COVID cases spike. China will stop requiring arriving travelers to go into quarantine starting Jan. 8, the National Health Commission …
Dollar flat as investors digest China’s loosening of COVID rules Read More »
By Seher Dareen (Reuters) – Gold prices jumped to their highest level in six months on Tuesday as optimism surrounding decisions by top consumer China to further ease COVID-19 restrictions weighed on the dollar, while benchmark U.S. yields limited gains. Spot gold jumped 1.1% to $1,816.69 per ounce by 1:52 p.m. ET (1852 GMT), rising …
Gold jumps to six-month high on China reopening optimism Read More »
By Nikunj Ohri (Reuters) – India’s pension fund regulator has recommended the federal government introduce a UK-like pension scheme for the country’s gig workers, a move aimed at bringing about 90% of the overall workforce into the pension fold, its chairman told Reuters. The Pension Fund Regulatory and Development Authority (PFRDA), which manages over $102 …
India’s pension regulator proposes bringing gig workers into pension fold -chairman Read More »
By Siddhi Nayak MUMBAI (Reuters) – India’s banking sector remained resilient in 2021/22 and lenders may have to raise deposit rates more to meet a surge in credit demand, the central bank said in a report on Tuesday. The Reserve Bank of India (RBI) has raised rates aggressively this year to tame inflation. While banks …
Indian banks may need to lift deposit rates as credit demand surges – RBI report Read More »
By Siddhi Nayak and Dharamraj Dhutia MUMBAI (Reuters) – The Indian rupee is likely to have seen the worst in 2022 and could start making a recovery in the new year, giving the Reserve Bank of India a chance to replenish its foreign exchange reserves kitty, a treasurer at HDFC Bank told Reuters. “The growth …
Indian rupee’s worst is likely over, to gain in 2023 -HDFC Bank treasurer Read More »
BENGALURU (Reuters) – Indian shares extended gains for the second straight session on Tuesday, aided by a jump in metal stocks, as risk appetite got a boost from China’s plans to loosen COVID-19 restrictions further. The Nifty 50 index closed 0.65% higher at 18,132.30, and the S&P BSE Sensex rose 0.60% to 60,927.43. Metals led …
Indian shares rise; metals lead on China reopening optimism Read More »
By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee eased slightly on Tuesday as oil prices rose and investors assessed China’s move to ease COVID curbs while cases continued to rise in the country. The rupee was at 82.73 per U.S. dollar by 10:33 a.m. IST, compared with its previous close of 82.65. Asian currencies …
Rupee down as oil prices gain further, forward premiums fall Read More »
CHENNAI (Reuters) – Indian drugmaker Laurus Labs said on Tuesday that four of its employees died following a flash fire in a room in a manufacturing block of its plant in Visakhapatnam, Andhra Pradesh. One other employee is undergoing treatment in a hospital after the incident that occurred on Monday evening, Laurus said. The company, …
India’s Laurus Labs says four employees died in fire incident Read More »
BENGALURU (Reuters) – Indian shares rose for the first time in five days in a low-volume session on Monday, with the benchmark Nifty 50 reclaiming the key 18,000 level, as risk assets were boosted after mixed U.S. data bolstered bets of smaller Federal Reserve rate hikes. The Nifty 50 index closed 1.17% higher at 18,014.60, …
Indian shares snap four-day losing streak; Nifty 50 back above 18,000 Read More »
BENGALURU (Reuters) -Private equity major Advent International will buy a 50.1% stake in Suven Pharmaceuticals Ltd from its promoter Jasti family and consider merging it with a peer in its portfolio, the Indian drugmaker said on Monday. Suven said Advent would make an additional open offer for up to 26% of the voting share capital …
Advent to buy 50.1% stake in India’s Suven Pharma, explore merger Read More »
